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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net gains on loans held for sale at fair value:      
Net gains on loans held for sale at fair value $ 817,368 $ 545,943 $ 791,633
Loan origination fees 185,700 146,118 169,859
Fulfillment fees from PennyMac Mortgage Investment Trust 26,291 27,826 67,991
Loan servicing fees:      
Loan servicing fees 1,799,480 1,484,946 1,228,637
Change in fair value of mortgage servicing rights and mortgage servicing liabilities (433,342) (605,568) 354,176
Mortgage servicing rights hedging results (832,483) (236,778) (631,484)
Change in fair value of mortgage servicing rights and mortgage-backed securities (1,265,825) (842,346) (277,308)
Net loan servicing fees 533,655 642,600 951,329
Management fees from PennyMac Mortgage Investment Trust 28,623 28,762 31,065
Net interest expense:      
Interest income 793,566 632,924 294,062
Interest expense 819,348 637,777 335,427
Net interest expense (25,782) (4,853) (41,365)
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust (57) 312 (235)
Results of real estate acquired in settlement of loans 864 1,545 2,510
Repricing of payable to exchanged Private National Mortgage Acceptance Company , LLC unitholders 201   576
Other 26,868 13,403 12,392
Total net revenues 1,593,731 1,401,656 1,985,755
Expenses      
Compensation 632,738 576,964 735,231
Loan origination 164,092 114,500 173,622
Technology 149,547 143,152 139,950
Servicing 105,997 69,433 59,628
Professional services 37,992 60,521 73,270
Occupancy and equipment 32,898 36,558 40,124
Marketing and advertising 21,969 17,631 46,762
Legal settlements 1,591 162,770 4,649
Other 45,881 36,496 47,272
Total expenses 1,192,705 1,218,025 1,320,508
Income before provision for income taxes 401,026 183,631 665,247
Provision for income taxes 89,603 38,975 189,740
Net income $ 311,423 $ 144,656 $ 475,507
Earnings per share      
Basic (in dollars per share) $ 6.11 $ 2.89 $ 8.96
Diluted (in dollars per share) $ 5.84 $ 2.74 $ 8.5
Weighted-average shares outstanding      
Basic (in shares) 50,990 49,978 53,065
Diluted (in shares) 53,356 52,733 55,950
Related Party      
Net gains on loans held for sale at fair value:      
Net gains on loans held for sale at fair value $ 4,067 $ (1,784) $ (16,564)
Loan origination fees 2,503 3,216 8,418
Nonrelated Party      
Net gains on loans held for sale at fair value:      
Net gains on loans held for sale at fair value 813,301 547,727 808,197
Loan origination fees 183,197 142,902 161,441
Net interest expense:      
Interest income 793,566 632,924 294,062
Interest expense 819,348 637,777 335,427
Non-affiliates | Nonrelated Party      
Loan servicing fees:      
Loan servicing fees 1,529,452 1,268,650 1,054,828
PennyMac Mortgage Investment Trust | Related Party      
Net gains on loans held for sale at fair value:      
Net gains on loans held for sale at fair value 4,067 (1,784) (16,564)
Loan servicing fees:      
Loan servicing fees 83,252 81,347 81,915
Net interest expense:      
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust (57) 312 (235)
Others | Nonrelated Party      
Loan servicing fees:      
Loan servicing fees $ 186,776 $ 134,949 $ 91,894